Quartix Technologies, a UK supplier of vehicle tracking and telematics services, said revenue for the first half rose 12% as the business expanded its subscriber base and implemented price increases. The company attributed growth to higher subscription numbers and upselling activity.
Profitability metrics - Quartix reported that both adjusted EBIT and pretax profit increased by 21% year-over-year for the period, each reaching £4.85 million. EBITDA for the first half stood at £7.20 million.
Earnings per share and taxation - The company noted a decline in diluted earnings per share in the period. Management said the drop in EPS resulted from a higher tax charge, which included an adjustment relating to the prior year.
Drivers of revenue and margin - Management highlighted a 7% expansion in its subscription base and an average price increase of 3%, a figure that reflects camera upsell activity. Quartix also reported an improvement in gross margin, which it linked to lower hardware costs following the rollout of a new tracking system.
Spending and channel review - During the first half the company increased investment in sales and marketing. Spending levels were subsequently adjusted after a review of returns from indirect channels, according to the statement.
Outlook and product pipeline - Quartix said it expects to meet market expectations for 2026 on revenue, adjusted EBIT and free cash flow. The market forecasts cited by the company for 2026 are: revenue of £40.3 million, adjusted EBIT of £10.1 million and free cash flow of £4.9 million. Quartix also confirmed plans to introduce a dashcam offering in Continental Europe in the first half of 2027.
The results underscore growth driven by recurring revenue and targeted pricing actions while highlighting near-term pressures on per-share earnings from tax-related items. The company is continuing to invest in go-to-market activities and to expand its product set into European markets.